Wow. Remember when everyone was predicting 3 percent GDP growth for 2014? Apparently the “experts” were a little off. (Seriously… Economists, meteorologists, and global warming scientists must have pretty awesome job security.) It turns out that the first quarter of 2014 actually contracted 2.9 percent. Yeah, we just saw the largest revision between second and third estimates of GDP since 1976.
So what caused this (apparently) unpredictable drop in economic activity? Well… According to CNBC, it can all be chalked up to snowstorms in January and February (which are clearly freak occurrences due to global warming). Maybe we can just have Obama sign an executive order that bans winter weather?
So, several inches of
global warming snow killed the economy in early 2014. I mean, it was no hurricane, or earthquake, or apocalyptic zombie virus outbreak, but it was still “extreme” weather, right? After all, there weren’t any broken levees, flooded New York City boroughs, or state-wide wildfires… But, yeah: snow caused the economy to shrink by nearly three percent. (Well, Bill de Blasio did keep all those rich Manhattan residents snowed in for a few weeks; but I don’t think the postponement of their Neiman Marcus shopping trips caused a massive contraction in GDP for the first quarter.)
Heck, with the way the Administration is trying to shift blame for poor economic performance, I’m almost expecting them to somehow blame Q1 GDP on a computer crash… Assuming that winter weather is the reason (which I’m kinda inclined to doubt), then we must have a pretty fragile “recovery” going on. The idea that GDP could be dampened by some heavy seasonal snowstorms is plausible; but if Father Winter is responsible for the single largest decline in economic output in five years, then our “recovery” is about as fragile as Hillary Clinton’s sense of reality.